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we hav have a paper that was published in the june 2011 national tax journal that looks at the cpi-w and the cpi-e out alternative measures of cost-of-living for social security retirement benefits. what we do in this paper is we begin by estimating the pattern of out of pocket health care spending for older men and women. in order to do this we used data from the health and retirement study which is an ongoing survey of a representative sample of older americans. what we find is as you might expect, out of pocket spending rises with age. and at any given age, out of pocket health care spending rises over time. so for a few difficult horse we perform the following calculation that we compute the pattern over the retirement of their social security benefit net of health care spending. in other words, take their social security benefit at every age in the retirement and subtract out of pocket health care spending, and we say that's what they have less to spend on, everything else besides healthy. so when doing this calculation we are assuming these individuals have no other source of r
we hav have a paper that was published in the june 2011 national tax journal that looks at the cpi-w and the cpi-e out alternative measures of cost-of-living for social security retirement benefits. what we do in this paper is we begin by estimating the pattern of out of pocket health care spending for older men and women. in order to do this we used data from the health and retirement study which is an ongoing survey of a representative sample of older americans. what we find is as you might...
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Mar 15, 2013
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the president a tax hike. i want to mention this politico had done from this morning. guest: republicans have seized the moment. democrats seem to be planning cliff during the fiscal tops. bell americans say, democrats, you have your tax increases, let's focus on spending cuts. republicans seem to be manning them that message -- managing that message well right now. host: our guest is damian paletta this morning. theou are listening on radio, here are the phone lines. 3881.licans, 202-585- democrats, 202-585-3880. $975 billion in targeted cuts with regard to health care, military, other programs. it also raises $975 billion in new revenues from closing " -- closing tax loopholes. $100 billion in stimulus spending focusing on job training and infrastructure. house republican plan has $1.80 trillion in savings from the repeal of the health care law. it leaves $1 trillion in automatic cuts as a result of sequestration. it includes $962 billion in cuts from agriculture subsidies and food stamps, reduces money for
the president a tax hike. i want to mention this politico had done from this morning. guest: republicans have seized the moment. democrats seem to be planning cliff during the fiscal tops. bell americans say, democrats, you have your tax increases, let's focus on spending cuts. republicans seem to be manning them that message -- managing that message well right now. host: our guest is damian paletta this morning. theou are listening on radio, here are the phone lines. 3881.licans, 202-585-...
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Mar 15, 2013
03/13
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why can't we allow the american public paying the taxes to earmark bulk of their taxes to things they want. if they want the white house press tours. if they want enhanced military. if they want the social programs. you know what will happen? all the things that matt her get supported. the military, police, roads. all the little fluffy stuff will disappear. >> dana: no more solyndra. >> bob: sorry, go ahead. >> eric: one question. "washington post," editorial page, reopen the white house doors, calling it bureaucratic hostage-taking. that is a week later. >> dana: yeah. that is why they could have stopped this from the beginning. i had a good point earlier i said in green room. if you throw the secret service under the bus, why not do it two weeks ago on the night when they announce that the white house tours would be closed? if you throw them under the bus you could have said whoa, secret service. you can't close the white house tours. we will figure this out. the white house will save the day. blame the secret service on that end. instead, they made everybody look bad. >> bob: the s
why can't we allow the american public paying the taxes to earmark bulk of their taxes to things they want. if they want the white house press tours. if they want enhanced military. if they want the social programs. you know what will happen? all the things that matt her get supported. the military, police, roads. all the little fluffy stuff will disappear. >> dana: no more solyndra. >> bob: sorry, go ahead. >> eric: one question. "washington post," editorial page,...
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Mar 15, 2013
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a heck of a lot better than treasuries after the tax benefits and left behind by the rest of its cohert. i can't believe i'm talking about this one because it's so far behind. i'm talking about one of the great american companies, merck, mrk, the pharmaceuticals giant that's stumbled more times in the last few months than a college kid on st. paddy's day. since early december the early pharma names have roared. pfizer up 12%, bristol miers up. i'm typical of my eighth anniversary, i somehow got blue ink on my hand. and cell gene jumped 43%. meanwhile merck has done nothing. it's actually down about 1% over the same period. right now there are reasons merck has underperformed the rest of the ones. in december the good -- in december the company got bad clinical trials from a new cholesterol drug that they were working on. and i thought it was going to be a big one, i have to tell you. so merck decided to stop development here in the u.s. and pull the drug overseas where it was already approved. this was one that i thought was just going to be the blockbuster. and then on february 1st we
a heck of a lot better than treasuries after the tax benefits and left behind by the rest of its cohert. i can't believe i'm talking about this one because it's so far behind. i'm talking about one of the great american companies, merck, mrk, the pharmaceuticals giant that's stumbled more times in the last few months than a college kid on st. paddy's day. since early december the early pharma names have roared. pfizer up 12%, bristol miers up. i'm typical of my eighth anniversary, i somehow got...
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Mar 15, 2013
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we're not going to do tax reform or grand bargain but some small deals going and make the government a little less dysfunctional so it's less impinging on the economy. you keep hearing the economy is ready to take off. if we can get the government out of the way for a couple years we can get some really nice growth and that will change things up and i think they are sceeding in denuclearizing our conflicts. no fiscal cliffs, no debt defaults. let the economy grow for a change. >> woodruff: what are you hearing. >> the government has to get out of the way, i love that. that's a great one after what we've been through in this country with absolutely no control. and we just learned again this week that the bank's too big to fail, too big to be reprimanded, controlled by the federal government. but i'd say this, judy. there's an old line in politics you dance with the girl who -- barack obama didn't do that. for the past seven years he's gone into hundreds if not thousands of rooms, people with large egos, people with great accomplishments, people who are great skeptical toward him and h
we're not going to do tax reform or grand bargain but some small deals going and make the government a little less dysfunctional so it's less impinging on the economy. you keep hearing the economy is ready to take off. if we can get the government out of the way for a couple years we can get some really nice growth and that will change things up and i think they are sceeding in denuclearizing our conflicts. no fiscal cliffs, no debt defaults. let the economy grow for a change. >>...
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Mar 15, 2013
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in the tax code. ms. murray provides few details, however. the real tax increase is closer to $1.5 trillion, but because the budget owe mitts $480 billion in unspecified taxes to replace sequestration and $100 billion to offset the cost of new stimulus. new stimulus. spending, mr. speaker is the problem. the house budget puts us on a track to in the just a balanced budget within 10 years but paying back every penny of debt that we borrow from americans and the world. and the senate budget has yet to pass committee, remains to be seen if they pass it in the senate, but the proposal is to increase spending and increase taxes. we're not up here bickering about what -- how to name a post office, mr. speaker, or whether or not we ought to meet on tuesdays or thursdays or fridays. we're up here arguing about whether the future of the republic, whether opportunity for our children and grandchildren lies in a future where we have paid back all of your debts or lies in a future where you allow those debts to r
in the tax code. ms. murray provides few details, however. the real tax increase is closer to $1.5 trillion, but because the budget owe mitts $480 billion in unspecified taxes to replace sequestration and $100 billion to offset the cost of new stimulus. new stimulus. spending, mr. speaker is the problem. the house budget puts us on a track to in the just a balanced budget within 10 years but paying back every penny of debt that we borrow from americans and the world. and the senate budget has...
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Mar 15, 2013
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low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. there's no subtext... just tacos. yeah, it's our job to make you want it. but honestly... it's not that hard. old el paso. when you gotta have mexican.
low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. there's no subtext... just tacos. yeah, it's our job to make you want it. but honestly... it's not that hard. old el paso. when you gotta have mexican.
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Mar 15, 2013
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most of these european countries, they have 50% tax rates. they're already starting at a point where they'll have a hard time recovering. france has 75% tax rate. >> that's only just been raised. britain is 40%. let's just get the -- >> it's still high. >> if you're talking local taxes included -- >> what i'm trying to put to you, really, ron, is the idea of slashing the budget. >> not slashing. >> and balancing the budget in the way that you propose and way rand paul did this week and the way paul ryan does. >> i just don't understand -- >> all of the best kmist economn the world are telling us all that would do is force us back into a recession. >> i don't understand. remember, when the government spends $1, it has to take it from the private sector. you're taking money out. actually my girlfriend had a great article on this that if you look at our deficit, $1 trillion, how many jobs does that equal? over 100,000 jobs that we're taking out of the economy and spending in the deficits. it's this idea, this liberal multiplier effect that gover
most of these european countries, they have 50% tax rates. they're already starting at a point where they'll have a hard time recovering. france has 75% tax rate. >> that's only just been raised. britain is 40%. let's just get the -- >> it's still high. >> if you're talking local taxes included -- >> what i'm trying to put to you, really, ron, is the idea of slashing the budget. >> not slashing. >> and balancing the budget in the way that you propose and way...
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Mar 15, 2013
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in order to give tax breaks more tax breaks to the wealthiest americans, we are going to make students pay more interest on the student loans. >> that's the kind of choices they make. >> bill: give us about 30 seconds. we talked about gun control. we talked about you and the nra before. do you feel more positive this year independent about passing sensible gun safety measures? >> i feel things like the universal backgrounds checks trafficking laws and potentially the high-capacity magazine restrictions have a chance. i think background checks will make it through. i was meeting with pta people from my state yesterday, the pta, parents and teachers of students ought to ch the. the last. but i don't think that the momentum for meaningful gun safety legislation has ended. >> bill: this is the time. you are out in front of a lot of important issues. good of you to take time with us this morning. >> good. >> congressman john yarmuth and i will be back with a quit parting shot. this is "the bill press show." fix breakouts fast with clearasil ultra. it starts working instantly, sending the ma
in order to give tax breaks more tax breaks to the wealthiest americans, we are going to make students pay more interest on the student loans. >> that's the kind of choices they make. >> bill: give us about 30 seconds. we talked about gun control. we talked about you and the nra before. do you feel more positive this year independent about passing sensible gun safety measures? >> i feel things like the universal backgrounds checks trafficking laws and potentially the...
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Mar 15, 2013
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tax reforms, but with that comes a reduction in rates. it's up to the house and senate to get into conference, come up with something that the president says is somewhere in the ballpark. one thing about it, some veterans, who have been around the block a few times, like senator pat roberts, are pleasantly surprised by the substance and the give and take of these meetings. another senator said he was dispinted. but they went from the senate republicans to the house members, the problem is, the president has told his democratic house members that i will not give in on entitlements unless there is a tax increase. >> steve: a show of hands, who thinks the president's charm offensive, who thinks it worked and will result in a big deal? >> alisyn: i don't know if it worked. but i do believe they were trying to hammer out a deal. that is what we were arguing yesterday. >> brian: the sincerity of the effort as opposed to the sincerity of the tactic and strategy. so we can not predict the future. but we do know people that can and they are just a
tax reforms, but with that comes a reduction in rates. it's up to the house and senate to get into conference, come up with something that the president says is somewhere in the ballpark. one thing about it, some veterans, who have been around the block a few times, like senator pat roberts, are pleasantly surprised by the substance and the give and take of these meetings. another senator said he was dispinted. but they went from the senate republicans to the house members, the problem is, the...
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Mar 15, 2013
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that's not tax reform. [applause] >> this white house has an insatiable appetite for revenues and more taxes. enough is enough. when it comes to education, what the dem credits extol the virtues of our one-size, fits all fact through r school where the child follows the dollar, and mean while let's support the education where the dollars follow the child. [applause] >> we had a union leader in louisiana who said that parents don't have a clue when it comes to making choices for their children. that's debate we need to have as a country. i melt with a group of moms and they say we make choices for our children every day. we know needs of our children better than the bureaucrat in baton rouge and washington, dc. that's the conversation we need to have today. these are just a couple of examples but we must fight the battle of idea or as margaret thatcher said, this is how we must win the argument. as i close, let me just share with you this. let me make this observation. america's facing her greatest choice. a
that's not tax reform. [applause] >> this white house has an insatiable appetite for revenues and more taxes. enough is enough. when it comes to education, what the dem credits extol the virtues of our one-size, fits all fact through r school where the child follows the dollar, and mean while let's support the education where the dollars follow the child. [applause] >> we had a union leader in louisiana who said that parents don't have a clue when it comes to making choices for...